Category: Regulation

From The start of this year there are new call recording requirements set out in SYSC10A. That’s pretty old news. What has sneaked in there however is this little beauty…. SYSC 10A.1.7 R 03/01/2018 A firm must take all reasonable steps to prevent an employee or contractor from making, sending, or receiving relevant telephone conversations […]

In a response to an FOI Request that asks the FCA for: “The number of reported data breaches for financial advisors, insurance, lenders, pensions, total (of these sectors), for each month from March 2013 up to March 2017” How many breaches did the IFA sector make in the 4 years that covers? Two There were, […]

In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA has suggested that IT should be classified as a Certified Function. This has implications to the recruitment process for individuals who are working in a Certified Function. the proposed rules are as follows Which is a little bit more […]

In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA has a concept of Significant Management Certifiable Functions for important functions that do not have a dedicated Senior Manager. This proposed rule is that there is a chain of responsibility from the function to the Senior Manager that must […]

On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]

In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA makes an interesting point about IT outsourcing which implies that IT is part of the Senior Management job function. If that is the case then the obligations on Senior Managers is to actually understand IT and the implications […]

On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]

On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]

The men are alleged to have obtained inside information from two firms by hacking their networks. Once they obtained access to the law firms’ networks, they targeted email accounts of law firm partners who worked on high-profile M&A transactions. That information was used to purchase stock in five companies before public announcements were made. By […]

I’ve just found this piece from HFM about Virtual CTO’s. HFM-Tech-magazine IP Sentinel offer a range of virtual CTO (vCTO) services to Fund Managers to help them, amongst other things, understand IT, mange their risk, assist in Investor Due Diligence, Manage SYSC8 KPI’s, help with regulatory visits. We have a framework of Policies & Procedures that […]